The cost of living crisis is here to stay for the next decade, predicts economist

The economic headwinds are not looking good, according to one economist. Here’s what businesses need to do to navigate the troubled waters.

by Éilis Cronin
Cost of living

UK households are going to be under financial pressure for the rest of the decade, which means businesses need to be more customer-focused than before, an economist has said. 

John Glen, a visiting fellow at the Cranfield School of Management, was speaking at MT’s Going for Growth event yesterday (26 April 2022). 

He told the audience that while inflation is set to drop by the end of 2023, particularly as fuel prices drop, the current economic pressures will negatively impact the real consumption wage - how wages compare to the price of the things people consume - for the rest of the decade. 

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